Pink diamond sells for record $57.7M at Hong Kong auction
October 14, 2022, 6:30 pm

Pink diamond sells for record $57.7M at Hong Kong auction

A pink diamond was sold for $57.7 million in Hong Kong on Oct. 7 - Photo, Pixabay

A pink diamond was sold for $57.7 million in Hong Kong on Oct. 7, setting a world record for the highest price per carat for a diamond sold at auction, the Associated Press reported.

It said that the 11.15-carat Williamson Pink Star, auctioned by Sotheby’s Hong Kong, fetched close to $5.2 million per carat, exceeding the previous record of $4 million for a blue diamond sold in 2015.

Sotheby’s said that the buyer was a private collector in the United States.

The Williamson Pink Star draws its name from two legendary pink diamonds. The first is the 23.60-carat Williamson Pink Diamond presented to the late Queen Elizabeth II as a wedding gift in 1947, while the second is the 59.60-carat Pink Star that sold for a record $71.2 million at auction in 2017.

The Williamson Pink Star, the second-largest pink diamond to appear at auction, and Queen Elizabeth’s diamond both came from the Williamson mine in Tanzania.

Diamond is a rare, naturally occurring mineral composed of carbon - Photo. Pixabay

The mine is famous for pink diamonds, which are among the rarest and most valuable of the colored diamonds.

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Tobias Kormind, managing director of 77 Diamonds said: “This is an astounding result, proving the resilience of top diamonds in a shaky economy."

“Hard assets such as world-class diamonds have a history of performing well even in times of instability,” he said, adding that “Some of the world’s highest quality diamonds have seen prices double over the last 10 years.”

Source: ap

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”